AXA reveals its 2023 strategy

Thomas Buberl

Chief Executive Officer of AXA

Bold and strategic choices have been made over our previous Ambition 2020 plan, as we successfully transformed our Group, shifting AXA’s profile towards insurance technical risks, simplifying the organization and scaling innovation in services. At the same time, we delivered consistent strong financial performance.

Our group is now reshaped to a simpler and more focused organization, closer to its customers and with the right scale across our geographies and preferred segments, Health, Protection and P&C Commercial lines. With a unique profile, AXA is very well positioned to capture post Covid-19 growth, and to cater to the new insurance needs of customers and society.

Building on our vision, we are moving towards 2023 with five strategic actions: expand Heath and Protection; simplify customer experience and accelerate efficiency; strengthen underwriting performance; sustain our climate leadership position; and grow cash-flows across the Group.

Our strategy is designed to deliver sustained earnings growth, driven by all our geographies, and a clear path to dividend growth, supported by enhanced cash generation, a strong balance sheet and disciplined capital management.

AXA’s earnings are expected to be materially adversely impacted in 2020 in the context of Covid-19, as previously communicated. At the same time, 2020 has shown the relevance of AXA’s strategic vision, its solidity, and the tremendous engagement of our people and partners. Together we are entering a new chapter for AXA in a strong position to bring even more value to all our stakeholders in line with our purpose: Act for human progress by protecting what matters.